证券日报网讯 11月24日晚间，悍高集团发布公告称，公司于2025年11月24日召开了第二届董事会第十 四次会议审议通过了《关于聘任公司副总经理、董事会秘书的议案》。经公司董事长、总经理提名，董 事会提名委员会进行资格审核通过后，董事会聘任夏祺先生为公司副总经理兼董事会秘书。 （文章来源：证券日报） ...

悍高集团公告称，公司第二届董事会第十四次会议审议通过《关于聘任公司副总经理、董事会秘书的议 案》。徐昊因内部工作调整，辞去副总经理、董事会秘书职务，仍任其他职务。经董事长、总经理提名 等程序，董事会同意聘任夏祺为副总经理、董事会秘书，任期至第二届董事会届满。因夏祺暂未取得培 训证明，先代行职责，待取得证明后聘任正式生效。表 ...

证券代码：001221 证券简称：悍高集团 公告编号：2025-025 悍高集团股份有限公司 关于独立董事、高级管理人员辞职 暨聘任高级管理人员的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 任何虚假记载、误导性陈述或重大遗漏。 悍高集团股份有限公司（以下简称"公司"）董事会于近日收到独立董事贺春 海先生及副总经理、董事会秘书徐昊先生递交的辞职报告，为保证公司董事会的 规范运作，公司于 2025 年 11 月 24 日召开了第二届董事会第十四次会议审议通 过了《关于聘任公司副总经理、董事会秘书的议案》，现将有关情况公告如下： 一、独立董事辞职及生效情况 贺春海先生因个人原因申请辞去公司独立董事、审计委员会主任委员、提名 委员会主任委员、薪酬与考核委员会委员的职务，其辞职后不再担任公司及控股 子公司任何职务。 券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第1号——主板 上市公司规范运作》和《公司章程》等相关规定，徐昊先生的书面辞职报告自送 达公司董事会之日起生效，其辞任公司副总经理、董事会秘书不会影响公司正常 的生产经营。截至本公告披露日，徐昊先生通过国泰君安证券资管－招商 ...

证券代码：001221 证券简称：悍高集团 公告编号：2025-024 具体内容详见公司于巨潮资讯网（http://www.cninfo.com.cn）同日披露的《关于 独立董事、高级管理人员辞职暨聘任高级管理人员的公告》。 表决结果：同意 6 票，反对 0 票，弃权 0 票。 1 悍高集团股份有限公司 第二届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有任何 虚假记载、误导性陈述或重大遗漏。 悍高集团股份有限公司（以下简称"公司"）第二届董事会第十四次会议于 2025 年 11 月 24 日在公司会议室召开。本次董事会会议通知及会议材料于 2025 年 11 月 20 日以邮件等形式向公司全体董事发出。会议以现场会议方式召开，由董事长欧锦 锋先生主持。本次会议应出席董事 6 人，实际出席董事 6 人，公司全体高级管理人 员列席本次会议。本次会议的召集、召开符合有关法律、行政法规、部门规章、规 范性文件和公司章程的规定。 本次会议以书面表决方式进行表决。经与会董事认真审议，本次会议审议并通 过了如下议案： 一、审议并通过《关于聘任公司副总经理、董事会秘书的议案》 徐 ...

Core Viewpoint - HanGao Group's public offering raised a net amount of 510 million, which will primarily be used for the construction of an automated manufacturing base for smart home hardware, a research and development center, and information technology projects, supporting the establishment of a 600,000 m² digital production base cluster [1] Group 1 - The company is a leader in the domestic home hardware industry, with a balanced multi-category and multi-channel layout, and excellent profitability [1] - Given that the company is newly listed and in a high growth phase, it has been assigned a "Buy" rating for initial coverage [1]

Group 1 - The core point of the news is that Hanguo Group's stock price dropped by 5.19% to 56.07 CNY per share, with a total market capitalization of 22.429 billion CNY as of the report date [1] - Hanguo Group, established on September 13, 2004, is located in Shunde District, Foshan City, Guangdong Province, and specializes in the research, design, production, and sales of home hardware and outdoor furniture [1] - The company's main business revenue composition includes: basic hardware 44.95%, storage hardware 28.67%, kitchen and bathroom hardware 12.80%, outdoor furniture 8.56%, and other main business 2.69% [1] Group 2 - Dongcai Fund has one fund heavily invested in Hanguo Group, specifically the Dongcai ChiNext ETF Initiated Link A (009046), which held 160 shares as of the third quarter, ranking as the sixth largest holding [2] - The Dongcai ChiNext ETF Initiated Link A (009046) was established on March 18, 2020, with a current scale of 193 million CNY and has achieved a year-to-date return of 41.74% [2] - The fund manager, Yao Nanyan, has been in position for 5 years and 250 days, with the best fund return during this period being 119.35% [3]

Group 1 - The core point of the news is that Hanhigh Group's stock price dropped by 5.19% to 56.07 CNY per share, with a trading volume of 70.01 million CNY and a turnover rate of 3.47%, resulting in a total market capitalization of 22.43 billion CNY [1] - Hanhigh Group, established on September 13, 2004, is located in Shunde District, Foshan City, Guangdong Province, and specializes in the research, design, production, and sales of home hardware and outdoor furniture [1] - The company's main business revenue composition includes: basic hardware 44.95%, storage hardware 28.67%, kitchen and bathroom hardware 12.80%, outdoor furniture 8.56%, other main business 2.69%, and other (supplementary) 2.32% [1] Group 2 - Longxin Fund has a fund that ranks among the top ten circulating shareholders of Hanhigh Group, specifically Longxin Jinli Trend Mixed A (519994), which entered the top ten in the third quarter with 500,000 shares, accounting for 1.43% of circulating shares [2] - The estimated floating loss for Longxin Jinli Trend Mixed A today is approximately 1.535 million CNY [2] - Longxin Jinli Trend Mixed A was established on April 30, 2006, with a latest scale of 4.03 billion CNY, and has achieved a year-to-date return of 31.21% [2]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4]. Core Views - The company is a leading player in the home hardware industry, focusing on design, brand building, and channel development, with a strong emphasis on product design and marketing expertise from its founder [2][20]. - The company has shown robust growth, with projected revenues of 2.857 billion yuan in 2024, representing a year-on-year increase of 28.6%, and a net profit of 531 million yuan, up 59.7% year-on-year [2][4]. - The home hardware industry is characterized by a fragmented market structure, with the company holding the top market share in the storage hardware segment [3][92]. Summary by Sections Company Overview - Founded in 2004, the company specializes in home hardware, including storage hardware, basic hardware, kitchen and bathroom hardware, and outdoor furniture [20]. - The company emphasizes product design, brand awareness, and a balanced channel structure, with no reliance on a single major customer [2][20]. Industry Landscape - The home hardware industry in China exceeds 200 billion yuan, with exports nearing 100 billion yuan, indicating a significant domestic market [3][92]. - The company ranks first in market share for storage hardware, with a strong online sales presence [3][92]. Growth Drivers - Revenue growth is driven by product category expansion, channel development, and international market exploration [4]. - The company’s revenue composition for 2024 is projected to be 30% from storage hardware, 43% from basic hardware, 13% from kitchen and bathroom hardware, 9% from outdoor furniture, and 5% from other products [4][21]. Financial Forecast and Investment Recommendations - The company is expected to achieve net profits of 712 million yuan, 896 million yuan, and 1.094 billion yuan for the years 2025, 2026, and 2027, respectively, with growth rates of 34%, 26%, and 22% [4][6]. - The report suggests that the company’s balanced multi-category and multi-channel strategy, along with its strong profitability, justifies the "Buy" rating [4].

Market Overview - The home goods sector increased by 0.12% on November 20, with Mengtian Home leading the gains [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Top Performers - Mengtian Home (603216) closed at 19.00, up 10.02% with a trading volume of 6060.65 lots and a transaction value of 11.51 million yuan [1] - Haolaike (603898) closed at 13.97, up 10.00% with a trading volume of 132,400 lots and a transaction value of 180 million yuan [1] - Jiangxin Home (301061) closed at 98.38, up 9.06% with a trading volume of 17,700 lots [1] Underperformers - Huaci Co. (001216) closed at 20.40, down 10.01% with a trading volume of 116,300 lots and a transaction value of 249 million yuan [2] - Jinpai Home (603180) closed at 21.23, down 5.94% with a trading volume of 69,100 lots and a transaction value of 150 million yuan [2] - Filinger (603226) closed at 37.42, down 4.98% with a trading volume of 48,000 lots and a transaction value of 182 million yuan [2] Capital Flow - The home goods sector experienced a net outflow of 256 million yuan from institutional investors, while retail investors saw a net inflow of 221 million yuan [2] - The top net inflows from retail investors included Mengtian Home (603216) with 733.71 million yuan, accounting for 63.72% of its trading volume [3] - Notable net outflows from institutional investors included Haolaike (603898) with 1,405.60 million yuan [3]

Core Insights - The company is a leading player in the home hardware industry, focusing on design, branding, and channel development [1][2] - The company achieved a revenue of 2.857 billion yuan in 2024, representing a year-on-year growth of 28.6%, with a net profit of 531 million yuan, up 59.7% [1] - The home hardware industry in China is fragmented, with the company holding the top market share in the storage hardware segment [2] Company Overview - Founded in 2004, the company specializes in home hardware, including storage hardware, basic hardware, kitchen and bathroom hardware, cabinet lighting, and outdoor furniture [1] - The company emphasizes product design, brand development, and balanced channel construction, avoiding reliance on a single major customer [1][2] - The management team is young and experienced, with a concentrated shareholding structure [1] Market Position - The home hardware market in China exceeds 200 billion yuan, with exports nearing 100 billion yuan [2] - The company leads the storage hardware market in 2022, with significant online sales [2] - The basic hardware segment is experiencing increased domestic substitution trends [2] Revenue and Growth Drivers - In 2024, the revenue breakdown is projected as follows: storage hardware (30%), basic hardware (43%), kitchen and bathroom hardware (13%), outdoor furniture (9%), and other products (5%) [3] - Domestic sales are expected to account for 86% of revenue, with offline distribution being the primary channel [3] - The company is well-positioned for future growth, with potential in the basic hardware segment and international expansion [3] Financial Projections - The company plans to use the net proceeds of 510 million yuan from its public offering for automation manufacturing, R&D, and information technology projects [4] - Projected net profits for 2025-2027 are 712 million yuan, 896 million yuan, and 1.094 billion yuan, with growth rates of 34%, 26%, and 22% respectively [4] - The company is rated as a "buy" due to its leading position in the home hardware industry and balanced multi-category channel layout [4]